Economy

Telegram Helps Crypto Usage Rise by 189% in Africa

Published

2 years ago

25/11/2024

Telegram has raised crypto usage by 189% in Africa. The messaging app for smartphones has ushered in a new era of communication by enabling cryptocurrencies and digital transactions to take place on Telegram. According to reports published by the cryptocurrency exchange, Bitget, Telegram has played an important role in reshaping the economy of Africa. Many citizens in Africa are adopting to cryptocurrency and decentralized finance (DeFi) by downloading Telegram on their digital devices.

The shift in digital transformation for Africans is a positive sign for crypto investors. Digital tokens like Bitcoin and Ethereum are moving the focus of cryptocurrencies from traditional Western banking to online transactions for smoother business operations. The survey released by Bitget studied the impact of Telegram across countries in Africa between January 2023 – August 2024. These findings have confirmed that the crypto-based messaging app, Telegram, has increased its user base in Africa by more than 3 million accounts.

56% of Telegram users in Africa are under 25

The younger generation of Telegram users has contributed to the growth of crypto-based activity in Africa. As per the Bitget report, the majority of Telegram account holders in Africa belong to a group of people under the age of 25. Economic instability has led young Africans to process their digital transactions on Telegram. The availability of banking services in vast regions of Africa has reduced over the years, letting the younger generation of online users get involved in blockchain technology and cryptocurrency to earn their living.

Asian countries have dominated the crypto industry. A large number of crypto companies have expanded their presence in Asia and across the globe by implementing cryptocurrencies and digital transactions into their daily routines. Bitget has stated that close to 90% of cryptocurrency users in Asia are aged between 18-39, capturing the financial markets in Asian countries by a whopping 216% increase in 2024.

African communities are eager to use Telegram for their business needs. Predictions have emerged that by 2025, over 54 million users in Africa might be using cryptocurrency to buy and sell goods and services. Countries like Nigeria and Ghana are taking charge of digitalization in Africa to ensure a secure future for African nations.

Mobile apps are at the forefront of digitalization. Telegram has over 900 million active monthly users worldwide, becoming a prominent app for people in their youth. The United Kingdom has over 6 million monthly users on Telegram while emerging markets such as India have generated 84 million downloads per month.

Telegram can be used on multiple digital devices

Africans enjoy the ease of use that Telegram provides to its customers. People can use Telegram on different digital devices including an Android smartphone, Apple iPhone, iPad, macOS, Linux, and PC. Each chat session on Telegram is synced and allows its users to access chat history on various devices. These messages are coded for encryption and deliver messages faster than other digital communication platforms.

Groups in Telegram can have up to 200,000 members. Africans can invite their friends and family to their network and connect with several crypto-based businesses on Telegram. Customization options in chat can make interactions fun and more engaging for the younger generation of crypto users in Africa. Messages sent and received on Telegram are safe from cyberattacks, turning the mobile app into a reliable platform for people.

All people need is their mobile phone number to access chats on Telegram. Africans can log into their Telegram accounts on multiple devices simultaneously. The API for Telegram is open to developers and enables people to build their own applications that can be integrated with other digital platforms. There are several features on Telegram like check marks and last seen time that can unlock new possibilities for African crypto traders and investors.

Mini apps get an update for Telegram

In November 2024, Telegram released a large update for mini apps that has a fun pack of features. Africans can open mini apps on Telegram in full-screen mode to view applications using the entire screen. Crypto games on Telegram can be played in portrait and landscape orientation with intuitive interfaces and gestures for entertainment. These mini apps can seamlessly function on Telegram to run applications on mobile devices.

VR experiences on Telegram are getting stronger due to device motion tracking. Crypto companies in Africa can develop mini apps for their Telegram users by receiving a ton of information about motion, providing unique controls to applications and games. Simple gestures like locking the screen on mobile devices can prevent Telegram users from screen rotations during their gaming experiences. Placing a shortcut for mini apps on the home screen of a digital device can reduce the time it takes to access applications directly on Telegram.

Developers in Africa can plan for events with mini apps that are dedicated to cryptocurrency holders. Building interactive maps for each digital event can be rewarding for young Africans developing blockchain technology to launch location-based crypto games in the future. Crypto users can send gifts on Telegram to recognize Africans for their online activities. Stars can be spent on Telegram to unlock a variety of achievements like trophies to celebrate winners.

Premium users on Telegram in Africa can change their statuses from mini apps to update their profiles. Mini apps allow its users to create and share media on Telegram. Sending referral codes and memes can take less time on Telegram compared to other leading messaging services.

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Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

22 Comments

Economy

First Holdco Lists N45bn Private Placement Shares on Stock Exchange

Published

7 minutes ago

24/06/2026

Aduragbemi Omiyale

By Aduragbemi Omiyale

Shares of First Holdco Plc worth N45.0 billion issued through a private placement have been listed on the Nigerian Exchange (NGX) Limited.

A circular issued by the Head of Issuer Regulation Department of the NGX Regulation Limited, Mr Godstime Iwenekhai, disclosed that the equities were admitted for trading at the stock market on Monday.

According to the notice, the additional shares brought for listing to rank pari passu with existing shares of the organisation were 1,021,334,544 units.

These stocks were sold to one of the company’s major shareholders at a unit price of N44.06, amounting to N45.0 billion.

The total issued and fully paid-up shares of First Holdco, as a result of this listing, are now 45,475,027,677 ordinary shares of 50 Kobo each.

“Trading licence holders are hereby notified that an additional 1,021,334,544 ordinary shares of 50 Kobo each of First Holdco Plc were on Monday, June 22, 2026, listed on the daily official list of Nigerian Exchange Limited.

“The additional shares listed on NGX arose from the company’s private placement of 1,021,334,544 ordinary shares of 50 Kobo each at N44.06 per share.

“With the listing of the additional shares, the total issued and fully paid-up shares of First Holdco Plc have now increased to 45,475,027,677 ordinary shares of 50 Kobo each from 44,453,693,133 ordinary shares of 50 Kobo each,” the disclosure stated.

Economy

AA Rano, Nipco, Matrix, Others Secure Q3 Petrol Import Permits

Published

17 minutes ago

24/06/2026

Adedapo Adesanya

By Adedapo Adesanya

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has approved fresh import licences for petrol and diesel for the third quarter of 2026 (July – September) to prevent potential supply shortages in the domestic market.

According to a report by global energy intelligence firm, Argus Media, the latest approvals were issued to major downstream operators amid declining fuel stock levels and concerns over reduced petrol production at the 700,000 barrels per day Dangote Petroleum Refinery in Lagos.

The move comes as Nigeria continues to balance increasing local refining capacity with the need to guarantee adequate supplies of petroleum products across the country.

According to the Argus report, domestic firms, including AA Rano, AYM Shafa, Bono Energy, Nipco, Matrix Energy and Pinnacle Oil, received permits to import Premium Motor Spirit, popularly known as petrol, during the July-September period.

The publication further reported that the same companies, with the exception of Nipco, were granted approvals to import Automotive Gas Oil, commonly known as diesel. The fresh approvals follow an earlier batch of petrol import permits issued by the regulator in May, covering about 720,000 metric tonnes.

Quoting a regulatory source, Argus noted that many of the companies granted the latest approvals were among those that had received permits in previous rounds. “These are some of the same ones that previously received the PMS permits,” the source was quoted as saying.

It was also claimed that AA Rano and Matrix Energy each received approvals to import 180,000 metric tonnes of petrol. AYM Shafa received approval for 120,000 metric tonnes, while Pinnacle Oil received a permit covering 150,000 metric tonnes.

For diesel imports, Argus reported that AYM Shafa obtained a permit for 60,000 metric tonnes, while Pinnacle secured approval for 45,000 metric tonnes. The report stated that the import approvals were issued only recently, after being delayed from an initial target date of June 15.

Economy

Three Securities Drag NASD OTC Market Down by 1.01%

Published

2 hours ago

24/06/2026

Adedapo Adesanya

Nigeria's Unlisted Securities Market Sheds 0.78%, NASD Shares up 8.31%

By Adedapo Adesanya

Three securities weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.01 per cent on Tuesday, June 23, dragging the market capitalisation down by N25.91 billion to N2.544 trillion from Monday’s N2.570 trillion. Also, the NASD Security Index (NSI) decreased by 43.17 points to 4,239.34 points from 4,282.51 points.

The triplet price losers were Central Securities Clearing System (CSCS) Plc, which gave up N4.82 to trade at N75.00 per unit versus Monday’s closing price of N79.82 per unit. NASD Plc depreciated by N3.70 to close at N33.30 per share compared with the preceding day’s N37.00 per share, and Nitrox Industrial Gases Plc marginally lost 1 Kobo to sell at N21.41 per unit, in contrast to the previous session’s N21.42 per unit.

Tuesday’s trading data showed that the volume of securities traded by investors retreated by 35.9 per cent to 211,671 units from 330,034 units, and the value of securities fell by 82.9 per cent to N5.6 million from N32.7 million, while the number of deals doubled to 38 deals from 19 deals.

At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units valued at N6.5 billion, and CSCS Plc with 68.1 million units transacted for N4.7 billion.

GNI Plc also closed the trading day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, trailed by Infracredit Plc with 2.3 billion units exchanged for N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.